The CBI today arrested the chairman of REI Agro along with a promoter of the company in connection with an alleged bank loan fraud of Rs 3,871 crore.
Bankers are set to write off loans worth Rs 5,200 crore to REI Agro, a wilful defaulter as the creditors invoke Bankruptcy and Insolvency Law against the company.
L&T | Idea Cellular | ONGC | HPCL | Coal India | Sambhaav Media | Quess Corp | Merck | Assam Company | NHPC | Kohinoor Foods | LT Foods | KRBL | Adani Enterprises | Varun Beverages and BEML are stocks, which are in the news today.
As many as 21 banks had extended loan of Rs 5,262 crore to REI Agro Ltd, a basmati rice trading firm, and the RBI has sought a detailed clarification from these banks after the fraud was detected, sources said.
Nooresh Merani of Asian Market Securities is of the view that one may hold Rei Agro
Bharti Airtel | Dabur India | Amara Raja Batteries | Just Dial | Trident | PI Industries | Thermax | CEAT | REI Agro | Raymond | Vedanta | Aptech | Opto Circuits | JSW Steel | Petronet LNG | Siemens | TCS | Jubilant Life | Mastek and Deepak Nitrite are stocks, which are in the news today.
Mushtaq Ahmad, Chairman and CEO, Jammu & Kashmir Bank says FY15 was a tough and challenging year for the banking industry. Floods compounded the situation further for the bank, he adds.
RBI has asked banks to declare REI Agro as fraud company. Deepak Narang, ED, United bank of India spoke to CNBC TV18 what it means for the bank which has an exposure of Rs 200 crore to REI Agro.
Hero Motocorp | Suzlon Energy | ONGC | IFCI | MCX India | L&T | REI Agro | Mahindra & Mahindra | Bosch | Indian Hotels and Dynamatic Technologies are stocks, which are in the news today.
According to Arun Kaul, Chairman at UCO Bank, their current exposure to REI Agro stands at Rs 800 crore
Tata Motors | Mahindra CIE Automotive | Bhushan Steel | SKS Microfinance | Dewan Housing | SpiceJet | Siti Cable | Coal India | Pidilite Industries | Electrosteel Castings | NBCC and Karnataka Bank are stocks, which are in the news today.
Rei Agro has reported a sales turnover of Rs 2,968.02 crore and a net profit of Rs 129.67 crore for the quarter ended Dec '13
Videocon Industries | Man Industries | Rasoya Proteins | Gitanjali Gems | ABG Shipyard | SpiceJet | CORE Education | REI Agro | IVRCL | Punj Lloyd | CRISIL | Opto Circuits | Educomp Solutions | Unitech | DEN Networks | Britannia | MMTC | REC | DLF | Jet Airways | SBI | Infosys | PNB and Supreme Infra are stocks, which are in the news today.
Pritesh Mehta of IIFL recommends holding on to Wockhardt and advises exiting the stock at around Rs 500.
Rei Agro has reported a sales turnover of Rs 3,188.07 crore and a net profit of Rs 156.92 crore for the quarter ended Sep '13
Rei Agro has reported a sales turnover of Rs 2,937.44 crore and a net profit of Rs 187.45 crore for the quarter ended Jun '13
Rei Agro has reported a sales turnover of Rs 2,821.74 crore and a net profit of Rs 248.72 crore for the quarter ended Dec '12
On February 01, 2113 Microsoft Corporation Savings Plus 401(K) Plan bought 9,498,000 shares of Rei Agro at Rs 9.90 on the NSE. In the previous trading session, the share closed at Rs 9.83, down Rs 0.13, or 1.31%.
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In CNBC-TV18's popular show Bull's Eye, Sharmila Joshi of sharmilajoshi.com shares trading strategy of the day.
REI Agro, which is the largest basmati rice processing and marketing company in the globe posted EBITDA profit from Rs 231 crore to Rs 252 crore (YoY).
REI Agro jumped as much as 7 percent on Thursday after the profit after tax increased 79 percent year-on-year to Rs 137 crore in the July-September quarter of current financial year on account of foreign exchange gain of Rs 22.2 crore.
Rei Agro in its meeting held on May 30, 2012 has recommended a final dividend of 50 paise per equity share (i.e., 50%) of Re 1 each for the financial year ended March 31, 2012, subject to approval of the members of the Company in ensuing Annual General Meeting.
On July 23, 2012 BNY Mellon Asian Equity Fund sold 14,000,000 shares of Rei Agro at Rs 10.44 on the BSE.
The Indian market has been extremely volatile over the last many sessions. Moneycontrol.com got Gaurav Dua, head research, Sharekhan to answer the stock queries you sent us on our Facebook page as part of KYI (Know Your Investment).